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Average price of Urals oil blend downs by 5% to roughly $106 per barrel in January 2014

February 03, 2014, 20:52 UTC+3 MOSCOW
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MOSCOW, February 03. /ITAR-TASS/. An average price of Russia’s Urals oil blend decreased by 4.8% in the first month of the year, as compared to the same period of 2013, and stood at $106.43 per barrel, a leading expert from the Russian Finance Ministry’s Tax, Customs and Tariff Policy Department, Alexander Sakovich, told Itar-Tass on Monday.

In January 2014, an average price of the Urals oil blend went down by 3.1%, as against December 2013.

Proceeding from the official forecast of the Russian Economic Development Ministry, an average oil price is established at $101 per barrel for the current year. The Russian federal budget for the current year was formed proceeding from the Urals oil price of $93 per barrel.

In 2013, the average price of the Urals oil blend amounted to $107.88 per barrel.

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